PennyMac Mortgage Investment Trust (PMT) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System lifted its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 356,340 shares of the real estate investment trust’s stock after purchasing an additional 4,940 shares during the quarter. California Public Employees Retirement System owned about 0.54% of PennyMac Mortgage Investment Trust worth $6,197,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Martingale Asset Management L P raised its stake in shares of PennyMac Mortgage Investment Trust by 30.1% in the second quarter. Martingale Asset Management L P now owns 246,523 shares of the real estate investment trust’s stock worth $4,509,000 after purchasing an additional 57,101 shares during the last quarter. Ramsey Quantitative Systems purchased a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth about $315,000. SG Americas Securities LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 34.9% in the third quarter. SG Americas Securities LLC now owns 52,504 shares of the real estate investment trust’s stock worth $913,000 after purchasing an additional 13,596 shares during the last quarter. BlackRock Inc. raised its stake in shares of PennyMac Mortgage Investment Trust by 0.3% in the second quarter. BlackRock Inc. now owns 6,319,656 shares of the real estate investment trust’s stock worth $115,585,000 after purchasing an additional 17,300 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in PennyMac Mortgage Investment Trust by 107.6% during the second quarter. BNP Paribas Arbitrage SA now owns 15,184 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 7,871 shares in the last quarter. Hedge funds and other institutional investors own 62.95% of the company’s stock.

PennyMac Mortgage Investment Trust (NYSE:PMT) opened at $15.86 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1,033.35, a P/E ratio of 11.17 and a beta of 0.52. PennyMac Mortgage Investment Trust has a 12-month low of $14.87 and a 12-month high of $18.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.18). The company had revenue of $75.80 million for the quarter, compared to analysts’ expectations of $81.72 million. PennyMac Mortgage Investment Trust had a net margin of 36.07% and a return on equity of 7.59%. The firm’s revenue was down 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 earnings per share. equities analysts predict that PennyMac Mortgage Investment Trust will post 1.32 EPS for the current year.

PennyMac Mortgage Investment Trust announced that its Board of Directors has approved a stock repurchase plan on Wednesday, December 20th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, December 29th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 11.85%. The ex-dividend date is Thursday, December 28th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 132.39%.

In related news, insider David Spector sold 18,750 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $17.39, for a total transaction of $326,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.08% of the stock is currently owned by company insiders.

PMT has been the subject of several recent research reports. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Keefe, Bruyette & Woods cut PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $19.00 to $18.00 in a research report on Tuesday, October 10th. Finally, ValuEngine cut PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and a consensus target price of $18.50.

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PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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